Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX) Reaches New 52-Week Low – Here’s Why

Nuveen Nasdaq 100 Dynamic Overwrite Fund (NASDAQ:QQQX)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $21.71 and last traded at $23.24, with a volume of 134719 shares changing hands. The stock had previously closed at $23.71.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Trading Down 1.0 %

The company’s fifty day simple moving average is $26.02 and its 200 day simple moving average is $26.00.

Nuveen Nasdaq 100 Dynamic Overwrite Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.24 dividend on an annualized basis and a yield of 9.54%.

Hedge Funds Weigh In On Nuveen Nasdaq 100 Dynamic Overwrite Fund

A number of large investors have recently made changes to their positions in QQQX. Raymond James Financial Inc. bought a new position in Nuveen Nasdaq 100 Dynamic Overwrite Fund in the 4th quarter worth about $10,319,000. 1607 Capital Partners LLC lifted its holdings in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 36.4% in the fourth quarter. 1607 Capital Partners LLC now owns 644,987 shares of the company’s stock worth $17,447,000 after buying an additional 172,132 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Nuveen Nasdaq 100 Dynamic Overwrite Fund by 54.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 287,681 shares of the company’s stock valued at $7,782,000 after acquiring an additional 101,821 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Nuveen Nasdaq 100 Dynamic Overwrite Fund by 12.0% in the 4th quarter. Invesco Ltd. now owns 860,866 shares of the company’s stock worth $23,286,000 after buying an additional 92,180 shares during the last quarter. Finally, Absolute Investment Advisers LLC purchased a new stake in Nuveen Nasdaq 100 Dynamic Overwrite Fund during the fourth quarter valued at about $1,251,000. 23.62% of the stock is owned by institutional investors.

About Nuveen Nasdaq 100 Dynamic Overwrite Fund

Nuveen Nasdaq 100 Dynamic Overwrite Fund is a closed-ended equity indexed mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.